The one incident I recall is when JK Labels was established in 2006.  

 

For the past 30 years we were in the label printing business, and in 2006 we decided to invest in a new plant with latest machinery and technology, German systems and infrastructure that can support very high-end and high-speed label production. It was with a lot of excitement and enthusiasm that we started this plant since only a handful of label printing plants in India had this kind of high infrastructure and planning.

 

However, when we started off, things did not go as per our vision. In the initial stage it was very difficult. Customers were not convinced as to why such high level of quality, compliances or even the systems of manufacturing were important in printing labels. For the initial nine months, there were no orders coming in.

 

We approached a lot of potential customers, but it was easier said than done to get their confidence right away. We were sitting idle for nine months and had very high interest cost to service, due to the large investment. It was a very nervous period for us. 

 

Finally, things started to turn around when our first customer landed. The client was a multinational company and they agreed for an audit. I clearly remember the day when their team visited our plant. They told us that they hadn’t seen an organised plant like ours in India. They said, “We could see how with all your heart you have built this plant.”

 

There has been no looking back since then. Now, we have been growing consistently at the rate of 30-35 % CAGR. In addition to this, on an average, in the last two years, we are adding three new clients per month. And today, our customer retention rate is extremely high.